To make immediate and prompt payments and money transfers and exchanges in the safest way over the internet, many have created technology and apps that will do this like the perfect money to bitcoin exchange. Blockchains and other technology that are decentralized are rather new that it is safe to say that we are still at the beginning of the age of decentralized technology. Most people as well are still in the initial phase of comprehending what these technologies are and how to utilize them in the best possible way.
What is a blockchain?
“The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.” Don & Alex Tapscott, Blockchain Revolution (2016)
Because of this, many industries are now utilizing cryptocurrencies or digital currencies like bitcoin to make safe and efficient transactions online. The healthcare sector is also adapting to this decentralized technology. So how is the industry on healthcare going to use this technology?
Back in 2017, Medicalchain planned to present blockchain technology to the EHR or electronic health records field. The blockchain safely archives health records and upholds a single account of the truth. This technology will allow different medical associations and individuals, like hospitals and doctors, to request authorization or approval to gain access to the health record of a patient from the blockchain. Patients are given more control over who can view their medical information, while healthcare workers and providers can give better care for patient established on more precise medical records.
SimplyVital Health is also making this decentralized technology available to the healthcare trade by building Health Nexus, a healthcare-grade blockchain and combined data storing. Their major app, ConnectingCare, extends existing care systems of hospitals to obtain information and produce care lane that is flexible, view and track financials, conserve unchallengeable files, and precisely keep an eye on analytics.
Cryptocurrency can also provide greatly needed access to resources for individuals residing in countries with low-to-middle income. In 2014, $120 was said to be the capital health spending of countries with low-income as matched to $5221 in countries who earn plentiful. Blockchain can deliver significant resolutions to this dilemma.